Wellington Shields & Co. LLC Sells 4,800 Shares of On Holding AG (NYSE:ONON)

Wellington Shields & Co. LLC lowered its position in shares of On Holding AG (NYSE:ONON) by 25.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,200 shares of the company’s stock after selling 4,800 shares during the quarter. Wellington Shields & Co. LLC’s holdings in ON were worth $778,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after purchasing an additional 440,685 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after buying an additional 349,789 shares during the period. Cerity Partners LLC boosted its position in shares of ON by 189.9% during the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after buying an additional 471,323 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of ON by 338.3% during the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after buying an additional 459,157 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in ON during the fourth quarter valued at approximately $28,575,000. Institutional investors own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ONON. HSBC raised ON from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Tuesday. KeyCorp reiterated an “overweight” rating and set a $68.00 target price on shares of ON in a research note on Wednesday, March 5th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of ON in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their price objective on ON from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley lifted their price target on ON from $62.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, ON currently has an average rating of “Buy” and a consensus target price of $61.90.

ON Trading Up 0.1 %

NYSE ONON opened at $46.41 on Friday. The business’s 50-day moving average price is $54.14 and its two-hundred day moving average price is $52.58. On Holding AG has a 12 month low of $29.84 and a 12 month high of $64.05. The firm has a market capitalization of $29.22 billion, a PE ratio of 107.93, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.